SANTA CRUZ DE TENERIFE Jan. 24 (EUROPA PRESS) –
The Cabildo of La Palma has approved during its plenary session on Friday to urge the Spanish Government to suspend the fiscal regulations that impose limits on the targets of budgetary stability and public debt for the island. This is deemed a “vital” measure to proceed with the reconstruction efforts following the eruption of the Tajogaite volcano in 2021, aiming to alleviate the impact on the island’s economic and social structure, which encompasses the fourteen municipalities.
The island’s president, Sergio Rodríguez, has elaborated on the “critical” need for the Spanish Government to grasp the severity of the situation on La Palma. “Our island is still undergoing a fragile recovery process, with damaged public infrastructure, displaced households, and an economic fabric that is struggling to regroup,” he remarked in a statement.
In this situation, he noted that the existing fiscal constraints only “compound” the challenges of progressing with reconstruction, particularly in a scenario where they cannot afford to disregard “any available resources,” especially considering that “it is quite likely that the national budget will once again be extended.”
Since the onset of the volcanic crisis, the Cabildo emphasises that the island’s budget has significantly increased to address the urgent requirements of the populace and to remedy the destruction.
However, they continue, the reintroduction of fiscal regulations in 2024 threatens the administration’s capability to formulate a budget that sufficiently caters to the needs of La Palma’s residents.
The Cabildo of La Palma has reaffirmed that an exemption from these regulations would enable the island to prioritise its recovery without the constraints imposed by economic standards that do not mirror the extraordinary nature of the situation. “It is a matter of responsibility and commitment to the citizens who have endured one of the most significant natural disasters in our nation’s history,” the president concluded.
